FTEL:CC - First Tellurium Mapping at Deer Horn Reinforces Copper Porphyry Profile and Provides Key Targets for September Drilling

(TheNewswire)

IP Survey in September and Follow-UpDrill Campaign Will Augment Current Program

Vancouver, BC - TheNewswire - August 31, 2023 - Dr. Lee Groat, Consulting Geologist and Qualified Person (“QP”)for First Tellurium Corp. (CSE:FTEL ) ( OTC:FSTTF) , reports that the property-widemapping and sampling program at the Company’s Deer Horn property inwest-central British Columbia has reinforced a key porphyry alterationmodel and provided drill targets for the mid-September drill program.As reported August16 , the mapping and sampling havealready confirmed a crucial structural connection between theproperty’s Pond copper porphyry and gold-silver-tellurium systems.

“The location and orientation of both the Pond andSaddle porphyry zones align with well-established porphyry alterationzone models,” said Dr. Groat. “The alteration zones observed onsurface indicate that a potassic zone lies in the subsurface at thePond area. This is one of the key markers for a mineralized copperporphyry.”

Groat added: “All of this information reinforces thepremise that Deer Horn supports a copper porphyry system in an areathat has never been drilled. The initial drilling in September willgive us further crucial information.”

The sampling team, consisting of graduate students fromthe University of British Columbia and the University of St. Andrews,collected 130 rock samples from the property. Of the 130 samples, 119are in for assays and four are undergoing U-Pb zircon geochronology tohelp understand the age of the rocks and thesequence of geological events . Five samples arereceiving thin-section petrographic analysis, and 10 are undergoingX-ray powder diffraction analysis.

“The X-ray diffraction is incredibly useful forsorting out mineralogy,” said Groat. “It will go a long way inhelping us understand where we are in the porphyry modelprofile.”

The September drill program is planned to consist ofone drill pad in the Pond zone and two drill pads in the Saddle-Newvein area. The objective at the Pond Zone is to intersect disseminatedmineralization, which would help locate the main ore zone in thesubsurface. In the Saddle area, the objective is to intersectdisseminated mineralization, multiple mineralized veins and the thrustfault.

“Obviously, we’re all very pleased with theinformation that's emerging from Deer Horn,” said First TelluriumPresident and CEO Tyrone Docherty. “Knowing now that the porphyryand the main gold-silver-tellurium vein systems are connected turnsthis into a significant target covering a vast amount of ground. ThePond Zone and Main Vein system are five kilometers apart. This alladds to our information base for the bigger drill program tofollow.”

The sampling, drilling and upcoming IP survey at DeerHorn are all designed to support a follow-up drill program, expectedto test the extent of the mineralization between the Deer Horn andPond showings and to study how the systems at Deer Horn and Pond arerelated. Further drilling at the Pond zone will help to understand thesubsurface extent of the porphyry system and its associatedmineralization.

Qualified Person

The Company’s disclosure of technical or scientificinformation related to the Deer Horn Project in this news release wasreviewed and approved by Prof. Lee Groat, Ph.D, P.Geo, TechnicalAdvisor to First Tellurium, who is a qualified person within thecontext of NI 43-101.

About First Tellurium Corp.

First Tellurium’s unique business model is togenerate revenue and value through mineral discovery, projectdevelopment, project generation and cooperative access to untappedmineral regions in Indigenous territory with sustainableexploration.

Our Klondike tellurium-gold property in Colorado andpolymetallic Deer Horn Project in British Columbia anchor adiversified search for metals, working in alliance with Indigenouspeoples, NGOs, governments and leading metals buyers. This is thefuture of mineral exploration—generating revenue by exploringresponsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to, and supports, theprinciples and rights set out in the United Nations Declaration on theRights of Indigenous Peoples and in particular the fundamentalproposition of free, prior and informed consent. First Tellurium islisted on the Canadian Stock Exchange under the symbol “FTEL” andon the OTC under the symbol “FSTTF”. Further information aboutFTEL and its projects can be found on www.firsttellurium.com .

Neither theCanadian Securities Exchange nor its regulations services acceptresponsibility for the adequacy or accuracy of this release.

Forward-lookinginformation

All statements included in thispress release that address activities, events or developments that theCompany expects, believes or anticipates will or may occur in thefuture are forward-looking statements.  These forward-lookingstatements involve numerous assumptions made by the Company based onits experience, perception of historical trends, current conditions,expected future developments and other factors it believes areappropriate in the circumstances. In addition, these statementsinvolve substantial known and unknown risks and uncertainties thatcontribute to the possibility that the predictions, forecasts,projections and other forward-looking statements will proveinaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-lookingstatements.  Except as required by law, the Company does not intendto revise or update these forward-looking statements after the datehereof or revise them to reflect the occurrence of futureunanticipated event.

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